Armor is to acquire the thermal transfer ribbon (TTR) business and related intellectual property (IP) of Iconex, strengthening its position in the US and worldwide.
Iconex is a provider of low-cost receipt, label and imaging products. Its TTR IP includes the patented formula of all Iconex grades including Ultra V. Armor noted that Iconex invented the paper receipt over a century ago, and today offers products including receipts, labels, printer supplies and other essentials.
Armor is a France-based thermal transfer specialist with operations worldwide. Armor has operated a manufacturing unit in the US since 2000. It continues to pursue growth in the region, such as with the opening of Armor Canada and its presence at trade shows such as Labelexpo Americas. The acquisition of Iconex’s TTR business marks a new stage in positioning Armor as a key TTR player in the US market.
Armor will fully integrate Iconex’s TTR offerings and IP into its organization over the upcoming months, ensuring cross-pollination of product, people and support. Armor formalized its TTR activities last year with the introduction of the inkanto brand.
Hubert de Boisredon, chairman and CEO at Armor, said: ‘Today’s news strengthens the industry by bringing together two long-time leaders in the TTR market with storied histories in the market. The Iconex brand is well known for its product innovation and we are excited to merge with our existing technology to better service our customers.’
The two companies have also signed a global reseller agreement, under which Iconex will become a preferred global reseller for Armor and its TTR products. The global reseller agreement between the two companies allows Iconex to sell its TTR technology as an Armor preferred partner in several countries around the world. The partnership is built upon a clear alignment of corporate strategy and direction and allows Armor to fully leverage Iconex strengths in the market.’
For Iconex, the deal strengthens its go-to-market strategy, spurring company growth and allowing a focus on its core offerings.
Iconex CEO Craig Gunckel said: ‘This strategic decision to sell our TTR business and associated IP will allow us to better focus on our strategy to become the world’s leading provider of receipts and innovative label solutions. We are also very excited to enter into a distribution agreement to become a reseller of the full line of Armor products and technologies, which now includes Ultra V. This partnership will allow us to better support our existing customers by offering an extended range of products and tools, which we believe will lead to growth for both Iconex and our customers.’
Boisredon continued: ‘We are not only acquiring a market-leading technology; we are establishing an important reseller agreement with Iconex that will enable an extensive more robust go-to-market strategy for us and reinforce our market penetration in the US and around the globe.’
Read more about the latest developments at Armor in Labels & Labeling issue 4, 2018, and here